Kepler Cheuvreux raises Banca Generali to 'buy' on unjustified share drop

Banca Generali SpA

12/02/2026 11:30

** Kepler Cheuvreux upgrades Banca Generali BGN.MI to "buy" from "hold" after a share price fall it deems unjustified and the Italian asset manager posted better-than-expected 2025 results on Wednesday

** It raised its PT to 61.50 euros from 60.00 euros, noting the asset gathering sector will likely face increased client demand for faster, more interactive advisory services, driven by growing competition from fintech companies

** This will probably lead to higher investments in artificial intelligence to meet evolving client expectations, the broker says

** "The operating leverage of Banca Generali will probably increase in our view, with profitability becoming even more dependent on volume growth," it adds

** Shares are up 3% at 11:25 GMT after rising as much as 6.5%, rebounding from a 7% dip on Wednesday, and on track for their best day in 10 months

        ** Out of 8 analysts, five rate the stock "strong buy" or "buy," ​three "hold" and no analysts rate the stock "strong sell" or "sell" - LSEG data

($1 = 0.8423 euros)

 (Reporting by Laura Contemori)

 ((Laura.contemori@thomsonreuters.com))